Business

The Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors, Senyo Hosi, has said Ghana has enough fuel stock to last a month amid fuel shortage concerns. Speaking on the Citi Breakfast Show, Mr. Hosi said there was no need to panic. “We have enough stock to keep us stable and actually buy us enough time to fix the ...

A lawyer, Dr. John Baiden, is pushing for the Attorney General to cause prosecutions at the Bank of Ghana (BoG) over the perceived mismanagement of the Ghana cedi, which continues to lose value against the dollar. He has petitioned the Attorney General and said, “the Bank of Ghana has compromised the Ghana Cedi. It is out of line and must ...

Ghana is likely to return to the International Monetary Fund (IMF) for support, an economist, Dr Adu Sarkodie has said. He says if this finally happens, it will affect some of the government’s programmes such as the free Senior High School, Nation Builders Corps (NABCO), and others. “We are likely to go back to the IMF. I don’t like it when we ...

As the Ghanaian economy strives to rebound to pre-pandemic levels, the Government is urging the private sector to come up with innovative products and services to satisfy the needs of their markets. The remarks come at a time when businesses are complaining of high cost of production in the country which is affecting the competitiveness of Ghanaian businesses. Data from ...

Ghana’s Consumer Price Inflation accelerated to 27.6% year-on-year in May from 23.6% in April hitting a new 18-year high, the Statistical Service said on Wednesday, June 8, 2022. This means that in the month of May 2022, the general price level was 27.6% higher than in May 2021. The Ghana Statistical Service figures also indicated that month-on-month inflation between April ...

Commuters should expect an increase in transport fares by 30 percent come Friday, May 13. This is according to the Ghana Private Road Transport Union. According to the union, the decision is a result of an increase in fuel prices over the last few months. The union had earlier proposed that government scraps some taxes on petroleum products to cushion ...

The Mobile Money Agents Association of Ghana has stated that there have been unprecedented panic withdrawals at the mobile money vending stations after five days of implementing the e-levy. Spokesperson of the Association, Charles Kwesi Addo, in an interaction with JoyNews said its members are overwhelmed by the numbers. “As at Friday even before the implementation of the levy on the 1st of ...

The Chamber of Petroleum Consumers-Ghana (COPEC), says its projection for the next pricing window shows that prices of petroleum products will see a marginal increase from Sunday, May 1, 2022. In a statement, the energy think tank said it expects petrol and diesel to be sold at GH¢ 9.538 and GH¢ 10.829 per litre respectively, bringing the average price of ...

The Bank of Ghana (BoG) has cautioned persons pricing goods and services in foreign currencies to desist from such practices or have themselves to blame. According to the apex bank, such practices breach the Foreign Exchange Act, 2006 (Act 723) which prohibits companies and institutions from pricing, advertising, receipting, or making payments in foreign currencies in Ghana. The central bank ...

Fuel prices in Ghana will go down by 15 pesewas per litre effective April 1, 2022. This reduction will be in place for three months. This was disclosed by the Minister of Finance, Ken Ofori-Atta, on Thursday, March 24, 2022, while announcing measures put in place by the government to cushion Ghanaians against current economic shocks. “To mitigate the rising ...